Portfolio Adjustments
UBS AM Increases Stake in Morgan Stanley, Philip Morris, and American Tower
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Key Points
1
UBS AM Americas held 5,323,016 Corning shares after selling 209,078 in the quarter, with the position valued at $1,359,658,000; the report also notes that 69.80% of Corning stock is owned by institutional investors and hedge funds.
2
UBS AM Americas owned 6,989,904 Philip Morris International shares after purchasing 1,412,478 during the period, with the stake valued at $1,264,544,000; PM opened at $192.02 on Friday.
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UBS AM Americas increased its holding in The PNC Financial Services Group to 3,607,786 shares after buying 39,112 shares, with the stake valued at $888,309,000; EVP Michael Duane Thomas sold 1,500 shares at an average price of $238.14 (June 12), a move described as a 22.87% decrease in his ownership.
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UBS AM Americas raised American Tower to 4,526,261 shares after purchasing 186,767 shares, for a stake valued at $740,361,000.
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UBS AM Americas increased its Morgan Stanley position to 11,206,144 shares after acquiring 188,296 shares, with a total value of $2,342,532,000.
UBS Asset Management Americas adjusted its major stock holdings in the second quarter, with notable moves across financial and industrial stocks. The firm increased its Morgan Stanley stake by 1.7% to 11.21 million shares worth $2.34 billion, while also boosting positions in Philip Morris International and American Tower. Meanwhile, UBS AM trimmed its Corning holdings as it rebalanced its $20+ billion portfolio Watchlist News.
Morgan Stanley Gets Bigger Vote of Confidence
UBS AM grew its Morgan Stanley position by acquiring 188,296 additional shares during Q2. The bank now holds 11.21 million shares valued at approximately $2.34 billion. This modest 1.7% increase reflects continued confidence in the investment bank as market conditions stabilize Watchlist News.
Philip Morris Gets a Major Portfolio Boost
UBS AM made its biggest move in Philip Morris International, jumping its stake by 25.3% during the quarter. The firm purchased 1.41 million shares and now owns 6.99 million shares worth $1.26 billion. Philip Morris stock opened at $192.02 on Friday, suggesting UBS AM sees value in the tobacco company's international diversification strategy Watchlist News.
Banking and Infrastructure Plays Get Modest Increases
UBS AM raised its American Tower position by 4.3% to 4.53 million shares worth $740 million, betting on continued demand for wireless infrastructure. The firm also bumped up PNC Financial by 1.1% to 3.61 million shares valued at $888 million. These incremental increases signal steady confidence in both the telecom tower and regional banking sectors Watchlist News.
Corning Stake Cut as Tech Holdings Shift
UBS AM reduced its Corning position by 3.8%, selling 209,078 shares and leaving it with 5.32 million shares worth $1.36 billion. Institutional investors and hedge funds own about 70% of Corning's stock. This pullback suggests UBS AM is rotating some capital away from the materials company toward higher-growth opportunities like Philip Morris Watchlist News.
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